Brookwood Mortgage Company
How Our Mortgage Company Can Help You
When it comes to a home mortgage loan, you want to know the process will be fast and easy. At JTS & Co., we streamline our mortgage services from start to finish. We can get all of your paperwork approved and moving towards a closing date in as little as 14 days. Our Brookwood mortgage lenders can offer you the newest mortgage and home loan products, that allows the approval process to move along quickly.
For over 20 years, our trusted mortgage professionals have been getting our customers into their own homes with ease. Whether you are a first-time homebuyer, looking for a refinance, or want cash out of your home's equity, our Brookwood mortgage company will work with you through the entire loan process.
The secret to our success hinges on what we know, and we know our mortgage products. That makes it possible for our home loan advisors to match our customers with the mortgage that best meets their needs. We recognize that each borrower is unique and has his or her financial background and goals. That is why we provide our diverse portfolio of mortgage products for you and your future.
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Our Mortgage Options in Brookwood
Our mortgage broker has a wide variety of mortgage products to offer you:
Conventional Mortgage: This type of loan is the most popular and common loan you will find. Conventional mortgages give you low down payment options from 5%. As long as your down payment is 20% or higher, you will not be required to pay monthly PMI (Private Mortgage Insurance). Our Brookwood mortgage lenders will work with you to determine the down payment amount which works best for your situation.
FHA Loan: An FHA loan is a government-backed loan. They are also very popular, as they allow people with less than perfect credit, or heavy debt, to obtain a mortgage loan. Mortgage rates are typically as low or lower than conventional loans, and your down payment can be as low as 3.5%. To be approved, your credit score must be 600 or higher. FHA loans can also be used for single-family homes, condos, and 1-4 unit properties.
VA Loan: A VA loan is guaranteed by the U.S Department of Veterans Affairs. If you are a member of the armed forces or have served in the military, a VA loan is a viable option. There are requirements to meet, and they are all specific to which branch of the military you served in, but a VA loan can get you a house with 0% down and less than perfect credit scores. Our Brookwood mortgage experts are with you every step of the way as you qualify for a VA home loan. We know how easy it is to get bogged down in the paperwork and documents that can slow an approval from coming.
Reverse Mortgage: A reverse mortgage is for homeowners 62 years of age or older. Instead of making monthly mortgage payments any longer, your lender now pays you out of your home's equity. There is a lot to know with a reverse mortgage, and it might not be for everyone, but our mortgage loan experts are here to answer your every question.
Jumbo Loan: This type of loan exceeds the maximum conforming home loan limit for a single-family home, which is $548,250. When it comes to a higher-dollar home loan, our mortgage company has great options for you. It takes great expertise and a deep knowledge of mortgage options to know when a jumbo loan is the best option for you. In fact, many Brookwood mortgage companies no longer offer jumbo loans, but at JTS & Co., we are one of the few originators who still do. Jumbo loans can be had with as little as 10% - 15% down and interest rates that are very competitive.
Mortgage Refinance: With today's lower interest rates, you have the potential to lower your monthly mortgage payment. This type of loan also lets you shorten your home loan term, get cash out of your home's equity, or combine a second mortgage in with your first mortgage. Switching from an adjustable-rate mortgage to a fixed-rate mortgage is never easier when you decide to refinance.
Mortgage Terms You May Hear
Common mortgage terms you should know include:
30-Year Fixed Rate: This term means you pay the same interest rate on your loan for 30 years. Fixed-rate loans are a great option, especially for homeowners with steady incomes, as you always know what your monthly income is.
15-Year Fixed Rate: Fifteen-year fixed rate loans have additional benefits over 30-year loans, as you pay less interest over the life of the loan and interest rates are often lower. Your monthly payment will be higher though because you will be paying your loan off in 15 years rather than in 30 years.
5/1 ARMs: Adjustable-rate mortgages are also an option. All ARMs begin with a period of fixed interest. Once this timeframe ends, your lender recalculates your interest rate based on market interest rates. If you have a 5/1 ARM, interest is fixed for five years, then it will be redone.
Why Choose Our Brookwood Mortgage Experts?
We are your local mortgage company in Mississippi and Alabama, which is a great advantage when it comes to choosing your mortgage lender, because we know the area, and we know the people that live there. Our team is friendly and knowledgeable about all of our products. Mortgages are all different, and if you are not familiar with the loan process, we take the stress out of it all.
Partner with a trusted mortgage expert. Not all Brookwood mortgage loan companies will offer you the same options. Let us save you a world of confusion, with our low interest rates, streamlined processes and quick closings. Contact JTS & Co. today for your next mortgage loan.